HomeMy WebLinkAbout0543 ~-IARBOR FEDERAL SAVINGS AND LOAN ASSOC.IATION
23376906
PLANNED UNIT DEVELOPMENT RIDER
1 Ii1~ !'I ~~~FI) l;~l l Dt ~!.L(?P`1f N1 RIDLR is made thiti ~.4T~... ~1a~' of ...........J.~n.4la~Y.. 19....~0.,
an.i i. ui:~~r~xxatr~i int~~ and.hail i~e deemed to amend and supplement the Mortgage, Deed a(Tru~t or Sicunty Dced (the
"tiecurit~~ lnstrument'~ of the same date, given by the undersigned (the "BorroH•er") to secure Borrower's lote to
HARBOR FEt)FRAL SAVINGS & LOAN ASSOCIATION (the "l.ender") uf the same dare and co~enng thr
Propert} described !n the Security Instrumer~t and located at:
_ _ 4168 A .GATOR .TRA~E..VI_LLA..CZR~,..~:ART..PI.~RG£.... FL. .3.4.~~2 .
(Property AOd~eSS)
fhr Pr~~~xrt~ in~lu~lr~, but i. not limited to, a p~ircel of land m ro~ ~1 with • dHrliing, tu eth~r w~{h c~ther surh r~elti and
Dec~a~at~on o~ Covenant~, COnditions an~
~rri:icn ~~~miiu~n area~ at d fa~ Itties, a~ desenbe in
Restrictions for ~ator Trace ~n O.R. BOok ~19,~ ~page ~94~, ~~and ~Decl~aration of ~Covenants
_ _ . . .
a d Res~ri~ti~ns ~or ~j~lla~ at Gator Trace in O.R. Book 601,~~~page 4~54, ~Public Records
o~ St. uc e.. u~. .~r,... . ori a
Gator Trace
Ith~• ..~)e:larah~~n 1. Thr Nru~erty tsa ~art ofa ~lanned un?t de~elopmcnt known as
_ _ ..VILLAS A'P•GATOR...~R~4Gg . . . _ . .
[r~amf ot Pidnr2tl Un~t ik~r~_~'^.ent~
Ith~ "YL'D"). Thr I'rc~~rrt~ ~hu inrludes R~~rrow•er'ti interest in the hcimeu~~:ier~ a»~~~iat~:~n or equi~alent entit~ ~~~~ning ~~r
manag~ng thr r~,mrn~~n are:i~ and faciGtie~ of the YUD (ihc "Owners As«k•iatir~n") and thr u~cs, h~nefit~ und ~rc~c~rds uf II
f~:~rr~~~~er', ~?Ztcre~t. j
PI~I) Cu~t~:~~Tti. In a~lditi~~n tu the ru~rn~nts and agreement~ madr ~n the Secunt~ In.trumrnt, f3rrn~wer and I
i rn~ler tiirther c~~~ ~nanl anel agree a, foilows:
A. PL'U ObliRations. Borm~~rr tihall ~ertorm all of Borrc~wer's ohligatiom under the PI~D', C~~n~tiwcnt
[)~~.umrnt~ The "Contitituent D~kumrnts" are the :(i) Declara~ion; Iii) arnrles of inrorporauon, tru.t in~trurnrnt or s:i~
.~n~n~ ~~I.~n~ r~~~,•um.~nt w h~rh ,~n~~~te>e thr~ (l~a nrre 4 een.~t•~tir~n- anrl 1i~~\ snL hv_lav~c rir nthwr n~l.~e nr r....~~1 ~1,., (l.. ,,,~r~
_ . . . • " • - - - ~ - . . v - - - _
:~,~~~~~au~~~~. R~~rr~~~~er ,hall ~r~~mptl~ pa~, when due, alf dues ~in~i a~ti~,timents ~mpotied ~ur~uant tc~ the Cnn`tituent
umrnt~.
B. Hazard Insurance. So lang a~ the Owners A~ti~kiauun ma~nta~m, ~~ith 3 generall~~ accepted ~nturance carner, a
' n~.~titrr" ~~r "hl.in{.et" ~olsc~ ~ntiuring the Property w•hirh i, satisfact~~r~ to Le~id~r and which prc~vides inturance co~•erage
:n thr :~muuntti. I~~r the pen~~Js, and against thr h~zards t,ender reyuire>. including fire and hazardti included «~ith~n the trrm
..ctte:teicd iu~rraer." then:
I~1 I.enJer ~~~ne. the pre~~i~~~m ?n l;n~f~~rm Co~ena~t 2 for thr mc}nthl} ~a~ment t~~ Len... ~~f ~~ne-t~~elith of
thr ~r:irl~ ~rrm~um in~tallment, f~,r hazard intiurance~~n the Prc~pert~~: and
(i~) I3~rn;"er',+~htigation under Lnifurm Co~enant S to maintain harard intiuranceco~erage ~~n thr Pru~.ert~ is
~irem~cl .at~sfird t~ the ~xtent that the reyuired co~~erage is provided by~ the Owner~ Assa~-iatiun poli~~.
E3~~rrcn~er sh.ill gi~e Lender ~rompt notice ~f an~• lapse in required hazard inwrance co~erage ~ro~ided h}~ the n3atiter
ur blanf:et pt~l~ct.
In the e~ent ~~f a distnbuti~~n of hazard insurance prcxeeds in lieu of re~t~~ration or rep2ir follo~~ing a luss to the
Prupert~ ~~r to ~ommon areas and farilii~es oF the PUD, any~ proceed~ pa}~ahle to B~rrow~er are hereb~ assigned and shall be
paid t~~ I.enc~rr. l.ender shall a~~l~ the pr~eeds to the sums securrd b} the Se~unt}• Instrument, H~ith an} excesc p~~~ ;o
' Bc~rr~,~~ rr
Yublie I.iabilit~~ Insuranee. B~,rrc~~~er shall take wch achc,nti a, mat• he reasonable to in>ure that th~ O~~ners
~ A~w~~st~un maintaint a~ublic liabilit}~ intiurance pol~c~ acceptable in form, amount, and extent ~fc~~erage to Lender.
E U. Condemnation. The pre~cre~ls of any aw•ard or claim for damages, direct ~~r eomeyuential. pa~~~ble to B~rm~~er in
~ ~~~nnerti<~n ith an~ c~ndemnation ~r other taking of all or an}' part of the Pro~rt}~ or ihe common ~reas an~i facil~ties of the
~ YI~D, cir Ic~r an~ ce~mey~ance tn lieu ~f eondemnahon, are hereby ass~gned and shall be paid to Lender. Such prcxeeds sh;~ll
be ap~t~ed b} Lender to the sums secured b}• the Securit} Instrument as pro~ ided in Uniform Ca~~enant 9.
; E. I.ender's Prior Consent. R~>rr~>wer shall not, except attrr naticr ro Lender and with Lender'ti prior w ntten
~ ~~~n.~nt, e~tF~er ~,artition or sub.~ii~~ide the Prt~prrt}• c~r consent to:
~ (i ) the abandonment or term~nat~on of the PUD, except ti~r abandc~nment or terminati~n reyuired h~ law in the
~ ~a,< <~f tiuh,tantial destruction by~ fire c~r ~ther casualt}~ or in the case of a taking b} condemnanon or em~n~nt dama~n:
~ (~i1 an~ amendment m an}~ prc~v~sic~n of the "Constituent Documents" if the pro~isiun is for the e~~re,~ henefit
~ c~f Lcndcr
~ (iiil term~nation ~rofetisional mar~agement and assumpuan of ~elf-management of the O~rners A.ti~kiation;
~ ur
~ (i~ ) am~ actton Hhich ~~~ould have the effect of rendering the public liab~ht}~ insurance c~,~erage mair.tained b}
ihe O«nen A~ux:iation unacceptable ro 1_en~er.
F. Remedies. If Borrower does not pay PIJD dues and assessments w~hen due, then Lender ma~~ pa~ them. An~~
amciunts d~tibursed by Lender under thi5 paragraph F shall become additional debt of Borrow~er secured b~ the Sccunh~
~ (n~trument Unless Borrower and I.ender agree to other terms of payment, these amounts shall t~ar interest fmm the date ~if
disburtiemrnt at thc'.V~te rate and shall be ~a}•able, with interest, upon notice from L.encier to Sorrow~er requesting payment.
Bti Si: ~~i~c; F~E ~ B:~rr~iwer accepts and agrec~s to the terms and pro~~isi~ns cc~ntained~ th~ti Pl'D Rider.
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~ '90 JAN 29 Alt :32 ...~:~~..t..:~~u..~. . . .....-----..~s~~i~
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MULTISTATE PUD RIUER-s~~gle Fam~ly-Ff~iMA/FHllMC UNlFORM INSTRUMENT
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